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Massapequa, NY
Business
Big Lots Files For Bankruptcy As List Of Store Closures Expands To 10 In NY
Discount retail chain Big Lots has filed for bankruptcy as its list of planned store closures expands. It currently has around 1,425 stores nationwide. The company announced on Monday, Sept. 9 that it will sell its assets to an affiliate of private equity firm Nexus Capital Management. In announcing initial store closures late in late July, Big Lots said a bankruptcy filing could be coming. Stores in the Northeast now slated for closure are as follows: New York Delaware Avenue, Buffalo South Ogden Street, Buffalo Route 5 & 20, Canandaigua Voice Road, Carle Place Centereach …
Mount Laurel, NJ
News
Mount Laurel Man Who Scammed $500K+ Sentenced In Foreign Currency, Car Loan Schemes: Feds
A Mount Laurel man will spend several years in prison after scamming hundreds of investors and car owners out of more than $500,000, authorities said. Michael Salerno, 55, was sentenced on Monday, Aug. 26 to three years and one month in prison, U.S. Attorney for the Eastern District of Pennsylvania Jacqueline Romero said in a news release. He had pleaded guilty to three counts of wire fraud after he was indicted for schemes in September 2020 and February 2023. Salerno operated Black Diamond Forex, L.P., BDF Trading, L.P., Advanta Capital Markets, Inc., and Advanta FX between …
Norwalk, CT
Business
LL Flooring Files For Bankruptcy, To Close 4 CT Stores, Including Norwalk
With some 300 stores nationally, the mega-floor retailer LL Flooring has filed for bankruptcy and announced it plans to close at least 90 stores, including four in Connecticut. According to a statement from LL Flooring, the stores being closed in Connecticut include Fairfield County in Norwalk and New Haven County in Milford, North Haven, and Waterbury. The business said the three remaining stores in Danbury, Waterford, and Harford will remain open. Charles Tyson, president and CEO of LL Flooring, said, “After comprehensive efforts to enhance our liquidity position in a challenging ma…
Gettysburg, PA
Business
Big Lots To Close 4 More Pennsylvania Stores
It's more bad news for discount retailer Big Lots. The national chain previously announced plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC), but in a new filing last week, the company said it may need to shutter nearly 300 locations — several of them in Pennsylvania. In an updated term sheet Big Lots filed with the SEC on Friday, Aug. 2, the company detailed that it would need to close 20 percent of its 1,392 stores — about 290 in all Big Lots has 73 stores located in the Keystone State. The company cited…
Massapequa, NY
Business
Big Lots To Close Pair Of NY Stores
Discount retail chain Big Lots plans to close around 40 stores this year, according to a filing with the Securities & Exchange Commission (SEC). It currently has around 1,425 stores nationwide. Six stores in New York, Connecticut, and Massachusetts are slated to close, with both New York stores on Long Island. No store closures are scheduled for New Jersey. The company cited rising costs and inflation as reasons for the move and said a bankruptcy filing could be coming. Stores in the Northeast slated for closure are as follows: New York 260 Voice Road, Carle Place 231 Centere…
Paramus, NJ
News
Coach USA Terminates 20 NJ Transit Lines In Filing For Bankruptcy, NJT 'Exploring Every Option'
The pressure is on for NJ Transit. The company was left high and dry when Coach USA announced it would be terminating its agreement with the major transportation company, halting service to 20 of its bus routes in Bergen, Hudson, and Passaic counties come Aug. 16. The decision to do so was made amid Coach USA filing for Chapter 11 bankruptcy. A spokesperson from NJ Transit said the company received written notice of Coach's intentions to abandon three of its five contracts in Bergen, Passaic, and Hudson counties "with a cessation of operation at the close of business" on Aug. 16. NJ Trans…
Worcester, MA
Business
Bob's Stores To Close All Locations After Filing For Bankruptcy; Retailer Liquidating Inventory
Bob's Stores, the family apparel and shoe retailer, will close all of its 21 locations throughout the Northeast after the company said it is bankrupt. The stores will remain open through July 14 as the company sells its remaining items at greatly reduced prices. Some things were marked down as much as 70 percent, according to a news release. The company, which filed for Chapter 11 bankruptcy late last month, is $29.4 million in debt, according to the court filing. Bob's President Dave Barton apologized to the communities affected by the closures. We regret that our financ…
New Rochelle, NY
Business
Business To Celebrate Reopening In New Rochelle As New Owner Rebuilds Brand
After closing more than a year ago, a store in Westchester will soon celebrate its grand re-opening at its original location thanks to its new owner who is working to rebuild its brand. Harmon Discount, a beauty store located in New Rochelle at 77 Quaker Ridge Rd., will hold a grand re-opening celebration on Friday, June 28 at 3:30 p.m. The store originally closed in February 2023 after its parent company, Bed Bath & Beyond, filed for bankruptcy. Despite this, the owner of the Quaker Ridge location, Jonah Raskas, decided to buy the Harmon brand. "Harmon was a successful busi…
White Plains, NY
Business
Updated List Of Scheduled Red Lobster Closures Includes 5 New NY Locations
Red Lobster plans to close more restaurants just weeks after it filed for bankruptcy, according to a new report. In a bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. Days before the filing, dozens of Red Lobster locations were listed as "temporarily closed" on the company's website, including these New York locations: Kingston, Scarsdale, Nanuet, Poughkeepsie, Stony Brook In an updated list of closures reported by CNN on Thursday, June 6, five new locations in New York have been added to the list, including it…
White Plains, NY
Business
Red Lobster Files For Bankruptcy After Abruptly Closing Dozens Of Restaurants
Red Lobster has filed for bankruptcy just days after closing dozens of its restaurants. In its bankruptcy petition filed on Sunday, May 19, the company listed assets of $1 billion and liabilities of $10 billion. The filing stated that the company "intends to use the proceedings to drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its assets as a going concern." The company said restaurants not listed as "temporarily closed" on its website will remain "open and operating as usual during the Chapter 11 process."…
Newark, NJ
Business
Red Lobster Suddenly Closes Dozens Of Locations Nationwide: Here's Where
Red Lobster has abruptly closed dozens of locations across the United States. According to a Bloomberg, the fast-casual seafood restaurant has considered filing for bankruptcy. The following locations are listed as being temporarily closed on the Red Lobster website, with some set to be auctioned off. MD: Columbia, Laurel, Silver Spring, Gaithersburg NJ: Ledgewood, Lawrenceville, East Brunswick, Bridgewater PA: Erie VA: Newport News, Williamsburg, Colonial Heights TAGeX Brand, which bills itself as the world's largest after-marketplac…
Arlington, VA
Business
Major Mall-Based Chain To Close 543 Stores After Filing For Bankruptcy
A major retailer primarily located in malls and headquartered in Pennsylvania is set to close all 543 of its stores following its third Chapter 11 bankruptcy filing. Closures for all rue21 locations are expected to be completed within the next two months with going-out-of-business sales coming soon. The company, headquartered in Pennsylvania outside Pittsburgh, had first filed for bankruptcy in 2003, and then for a second time in 2017, when it closed around 400 stores. Founded in 1970, rue21 specializes in women's & men's casual apparel and accessories. rue21 has locations in …
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